Separate 12 large egg yolks into a large mixing bowl, discarding the whites or saving them for another use.

Whisk the egg yolks on medium speed for 2 to 3 minutes until pale yellow and slightly increased in volume.

Slowly pour in the sweetened condensed milk while whisking constantly until smooth.

Add the evaporated milk in a steady stream while whisking gently to combine.

Pour in the full-fat coconut milk and whisk until the mixture is completely smooth and uniform in color.

Sprinkle in ground cinnamon, nutmeg, clove, a pinch of salt, and vanilla extract, then whisk thoroughly to distribute the spices evenly.

Strain the mixture through a fine-mesh strainer into a clean bowl to remove any lumps or gritty spice specks.

Stir in 1 cup of dark rum or spiced rum until fully incorporated.

Transfer the coquito to glass bottles or jars, seal tightly, and refrigerate for at least 2 hours or overnight to chill and allow the flavors to meld.